Why I am buying gold for portfolio right now, by manager of £1 billion of assets

http://www.whatinvestment.co.uk/financial-news/funds/2496091/why-i-am-buying-gold-for-portfolio-right-now-by-manager-of-1-billion-of-assets.thtml

Lewis commented, ‘We have been keen observers of the growing market distortions created by global monetary policy. With central banks losing control of the macroeconomic environment we believe policies such as QE become will become discredited.’
He continued, ‘As a result, we have reduced equity exposure within our MAP range of funds and in its place introduced a position ingold for the first time. Gold has a low correlation with other risk assets and serves as a form of insurance should all the world’s central banks spark a round of competitive currency devaluation by loosening monetary policy further. In a world with low, and even negative, real interest rates the opportunity cost of us providing this protection is low.’